Oando Foundation Launches Effort to Transform African Education

NEW YORK, Sept. 26, 2012 /PRNewswire-USNewswire/ -- The Oando Foundation – the philanthropic arm of Oando PLC, one of Africa's leading indigenous energy solutions providers – is attending the Clinton Global Initiative (CGI) Annual Meeting this week to emphasize the urgent need to transform education in Nigeria and across the African continent. The Foundation is calling on government, business and donor organizations to make the investments necessary for Nigeria to meet the Millennium Development Goals to achieve universal primary education and lower poverty rates.

Established in 2005 by former U.S. President Bill Clinton, CGI convenes a community of global leaders to address the world's most pressing challenges and forge solutions. The Oando Foundation is a CGI member and for the first time will pledge a Commitment to Action to address the urgent need for sustainable development across Nigeria's education sector. As Africa's most populous nation, this commitment promises to transform education for more than 60,000 children in 100 public primary schools by 2015.

"We know that knowledge is the bedrock of world-class aspirations," said Wale Tinubu, Group Chief Executive of Oando PLC. "To ensure future generations of Africans can compete on the global stage, we need to ensure excellence at every point in the education experience."

The Oando Foundation is improving the quality of education at every level – investing in infrastructure, ICT capacity building, teacher training, scholarships, creative centers, potable water, books and other materials. The Foundation is also putting early learning centers in its funded schools. The Foundation is working with the Federal Government of Nigeria to shape education policy and the Local Government Education Authority to implement best practices at the primary school level. The Foundation also partners with the State Universal Board of Basic Education, the private-sector and NGOs to provide the resources and expertise necessary to improve education.

According to Nigeria's National Bureau of Statistics the country's GDP growth rate was 7.68 percent in 2011. By comparison, the United States' growth rate for the same period is estimated at 2.30 percent. In a nation of more than 158 million people where more than 60 percent of the population is under age 25, improving education is critical to ensuring Nigeria achieves its potential and remains an economic anchor in the region.

About the Oando Foundation. The Oando Foundation was established in 2011 with the aim to create long-term shared values. It has a proud heritage of reinvesting in the community with a focus on strategic partnerships with government, the private sector, NGOs and civil society. The Foundation is funded by independent contributions and corporate contributions. Oando PLC currently provides 1 percent of its annual pretax profit to fund Foundation priorities. Today 80 percent of Oando's giving is committed to primary education and 20 percent goes to special projects designed to address other key social issues. Learn more about the Foundation at oandofoundation.org.

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